A comparative advantage is the ability of one person or nation to produce a good at an opportunity cost that is lower than that of another person or nation.
Answer the following statement true (T) or false (F)
True
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If the Fed buys government securities from the non-bank public, then
A) reserves at banks decrease. B) deposits at banks increase and banks' reserves increase. C) deposits at banks increase and banks' reserves decrease. D) loans at banks decrease. E) deposits at banks decrease and banks' reserves increase.
When the price of toothpaste increases by 15 percent, the quantity of toothpaste demanded falls by 30 percent. Calculate the price elasticity of demand. Is the demand for toothpaste elastic, inelastic, or unit elastic?
What will be an ideal response?
Which of the following move the handling of a common property resource closest to efficiency?
A) ensuring that the sellers of the resource are perfectly competitive B) ensuring that the seller of the resource is a monopolist C) banning the sale of the resource D) banning the use of the resource E) assigning a usage fee for access to the resource
With illegal immigration the unskilled labor supply curve:
a. shifts to the left. b. becomes perfectly inelastic. c. becomes perfectly elastic. d. shifts to the right. e. becomes non-existent.